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Hollard Seguros supports SME credit expansion in Mozambique
8:04 CAT | 13 Dec 2021
FILE PHOTO - Henri Mittermayer, CEO at Hollard Moçambique. [File photo: Supplied]
Hollard is launching a pilot project for the implementation of a Loan Guarantee Facility for Small and Medium Enterprises (SMEs).
Called “Credi-Seguro”, the project consists of the implementation and management of a Loan Guarantee Mechanism that will guarantee financing granted by banks and micro-banks to Small and Medium Enterprises (SMEs), implemented through a digital platform and made possible by an advanced study of credit risk.
On the Credi-Seguro online platform, small and medium-sized companies will be able to digitally submit credit applications and, if the analysis is positive, Hollard will pre-approve a loan guarantee. As a result, a loan application base will be created for participating banks and micro-banks, with information already verified and pre-approved by Hollard.
Developed by Hollard Seguros with a team of Mozambican and international experts, Credi-Seguro creates a more effective collaboration between the insurer and banks in Mozambique, safely expanding credit to the SME sector.
The database contains verified customer information and documentation, business valuation, credit score and pre-approved loan guarantee. Banks will, however, have complete freedom to carry out their own credit assessments. In addition to transferring the risk of the credit guarantee that Hollard will provide, Credi-Seguro will also receive financial support from Hollard for the pilot phase of this initiative.
The project is ready for implementation, and the project team is in negotiations with different commercial and microcredit banks to participate in the pilot project.
According to information provided during the launch of the project, on Monday, 06/12, by Henri Mittermayer, president of the Executive Committee of Hollard Mozambique, the first group of SME customers has already been considered and is ready to be sent to the banks as bank loan applicants.
The Hollard Group believes that this project will be the catalyst for a regional initiative, with similar projects in other SADC countries, as a successful pilot project will allow its implementation in all regions of Mozambique and, potentially, in the rest of the African continent.
Hollard Mozambique, a subsidiary of Hollard International, is made up of Hollard Holdings Mozambique, Hollard Moçambique Companhia de Seguros and Hollard Vida Companhia de Seguros and other companies in which it has shareholdings.
Source: Hollard Mozambique / Press Release
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